Читать книгу Revenue Recognition - Renee Rampulla - Страница 28

While revenue and gains may appear to be similar, some significant differences exist. As described in the definition, revenue is the result from an entity’s ongoing major or central operations and activities, meaning revenue is derived from producing goods, rendering services, or other activities. Gains result from an entity’s peripheral or incidental transactions and from other events and circumstances stemming from an environment that may be largely beyond the control of the entity and their management. Understanding the difference between gains and revenue is important because gains from peripheral or incidental transactions are outside the scope of FASB ASC 606, Revenue from Contracts with Customers, and therefore outside any of the course’s content.